MGH Energy & Petrom ink 51 billion dirham green hydrogen deal in Morocco

MGH Energy and Petrom have joined forces to answer Morocco’s call for green hydrogen, pledging a 51 billion dirham (€4.8 million) investment. This strategic partnership aims to develop the renewable synthetic fuels sector in the Kingdom, with the Janassim project at its core. This project is poised to produce a staggering 500,000 tonnes of carbon-free fuels annually.

The agreement was signed on Tuesday, October 29th, in the presence of Nadia Fettah, Morocco's Minister of Economy and Finance, and Antoine Armand, French Minister of Economy, Finance, and Industry, on the sidelines of the Morocco-France Business Meeting, during French President Emmanuel Macron's visit.

The two companies will collaborate closely, sharing expertise and conducting in-depth studies on renewable synthetic fuel markets, regulations, production, and distribution. MGH Energy will contribute its renewable energy, project management, and decarbonization expertise, while Petrom will leverage its strategic vision for fuel distribution and marketing in Morocco.

The Janassim project, slated for commissioning in 2030, will be a game-changer. Located in the Dakhla-Oued Ed-Dahab region, the project will harness the region's abundant wind and solar energy to produce up to 2.2 gigawatts of renewable power. This will not only decarbonize maritime and air transport but also prevent the emission of 724,000 tonnes of CO2 annually.

By 2030, when the port of Dakhla Atlantique is operational, Petrom will be able to offer its customers sustainable fuels produced by the Janassim project, expanding its product range and contributing to a greener future.